This feature allows BMW dealers to extract the necessary financial data from QBs and DX1 to generate a file that can be directly imported by AOSolutions where your BMW Financial Statements can be reviewed.
In the document we will cover:
- Part 1: Initial Setup
- Part 2: Monthly file generation process
Part 1: Initial Setup
Click on your initials in the upper right hand corner then choose Dealership Settings
Mapping your accounts:
Before DX1 can generate the file needed for your BMW Financial report you need to map ALL of the accounts in your COA (Chart Of Accounts) to the standard BMW COA
BMW Account Mapping
Before you start manually mapping each account, DX1 recommends the use of the Auto Map Accounts button in the upper right hand corner. When clicked it will do it's best to map each of your accounts to the appropriate BMW accounts based on the accounts you currently have set in the various DX1 account mapping fields.
Note: Clicking the “Auto Map Accounts” button WILL overwrite any previously mapped accounts
After the "Auto Map Accounts" process is finished you should review and update any mappings that are not correct. You will need to go through and map ALL of the accounts for each account type tab before you will be able to generate a BMW Financial report, remember to Save your you changes as you go.
To set or change the BMW account your account is mapped to, simply click the dropdown arrow in the righthand column and select the correct BMW account, once all of your accounts have been mapped click Save.
For Expense accounts the Profit Center allocation must also be set for each account
You may allocate each of your expense accounts to a specific BMW Profit Center (New, Used, Service, P&A, Apparel) or do it based on your predefined Default Expense Ratios (Use Ratios) see below to set the default ratios,
You may set Default Expense Ratios as shown. Note: The percentages entered must equal 100
Part 2: Monthly file generation process
1) Open the DX1 Accounting application and click the Composite Reports tab
2) Select the Month and Year you wish to generate the report for
3) Click the "Get QB Data" button to load in account balance data for the selected month from Quickbooks
Note: All accounts MUST be mapped to the BMW COA before the file can be created.
4) Click the "Get DX1 Data" button to load in data like unit and invoice counts for the selected month from DX1
5) Finally click the "BMW Financials" button to generate the file you will save to your computer and then can upload to AOSolutions.